Hain Celestial 4Q Profit Up 11 Percent

LAKE SUCCESS, N.Y. (AP) — Food company Hain Celestial said Wednesday that its net income rose 11 percent in its fiscal fourth quarter, helped by recent acquisitions. Its outlook for this year topped Wall Street forecasts, sending shares up in aftermarket trading.

The company also named a new CFO, hiring an executive from beauty products maker Elizabeth Arden.

Hain Celestial Group Inc. owns brands including Celestial Seasonings tea, Terra chips and Earth's Best baby food. It made three acquisitions during the fiscal year, including expanding its U.K. business by buying Hartley's jam and Sun-Pat peanut butter.

The company said it earned $25.9 million, or 53 cents per share, over the three months ended June 30. A year ago it reported net income of $23.4 million, or 50 cents per share.

The company is projecting net income of $2.95 to $3.05 per share and $2.03 billion to $2.05 billion in revenue for the current fiscal year. That's above analysts' prediction of $2.94 per share and $2.01 billion in revenue.

Hain also said Elizabeth Arden Chief Financial Officer Stephen Smith will be its new CFO. Smith, who has worked at the beauty products maker for 12 years, will start at Hain on Sept. 3.

Hain announced last year that current CFO Ira Lamel would retire. Lamel leaves on Aug. 31.

Shares of Hain Celestial Group lost 96 cents to $72.90 on Wednesday. The stock added 6.3 percent to $77.47 in after-hours trading.